IMPLICATIONS OF CRYPTOCURRENCY: A NEW BUSINESS PROPOSITION OF TODAY’S ENTREPRENEURIAL HORIZON

Authors

  • Snigdha Basu Institute of Management Study, Maulana Abul Kalam Azad University of Technology, West Bengal, India.
  • Tapash Ranjan Saha Institute of Management Study, Maulana Abul Kalam Azad University of Technology, West Bengal, India.
  • Swapan Kumar Maity Institute of Management Study, Maulana Abul Kalam Azad University of Technology, West Bengal, India.

Abstract

Cryptocurrency is in a unique position as a forerunner in a possibly transformative technology to long standing financial systems. Businesses are beginning to see the value in using cryptocurrencies for international transactions, especially when transactions need to occur quickly in response to an emergency.  We live in a world where everything around us is becoming digital. Along with the digitalization, money and investment are getting digitalized too. Crypto currency is the new concept of money and can be termed as digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. There are approximately 1300 other crypto currencies that exist in the digital currency market such as Ethereum, Ripple, NEM, Lit coin etc. Whereas bit coins are the most sought after Crypto currency in the market. Eight years since its introduction, bitcoin is today the most widely used and accepted digital currency. Pricing in bitcoin transactions is demand based, it is exceptionally volatile. Volumes of trading happen every second. The price of a bitcoin is largely dependent on the trading i.e. demand and supply factors. In the present study the primary objective is to find out the present scenario of the crypto currency business in India. It also studies the business prospect of bitcoins crypto currency business in India and to look out if India is ready for the changing form of new currency business. To fulfill the objectives of the study relevant statistical techniques will be used to find out the recent trends. Yearly return on investment ratio and future scope of the crypto currency business in India with special reference to bitcoins will be examined in the recent article. A much-focused SWOT analysis will also to be done to identify the overall working mechanism of the new business proposition in the today’s entrepreneurial horizon from Indian context.

Keywords:

Virtual currency, Crypto graph, SWOT analysis, Bitcoin Exchanges, Block Chain, Trends

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References

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Published

02-07-2018

How to Cite

Snigdha Basu, Tapash Ranjan Saha, & Swapan Kumar Maity. (2018). IMPLICATIONS OF CRYPTOCURRENCY: A NEW BUSINESS PROPOSITION OF TODAY’S ENTREPRENEURIAL HORIZON. International Journal on Recent Trends in Business and Tourism (IJRTBT), 2(3), 64-70. Retrieved from https://ejournal.lucp.net/index.php/ijrtbt/article/view/201

Issue

Vol. 2 No. 3 (2018): International Journal on Recent Trends in Business and Tourism

Section

Articles

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Copyright (c) 2018 International Journal on Recent Trends in Business and Tourism (IJRTBT)

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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